1707.23
Division of securities - enforcement powers.

Whenever it appears to the division of securities, from its
files, upon complaint, or otherwise, that any person has engaged in, is engaged
in, or is about to engage in any practice declared to be illegal or prohibited
by this chapter or rules adopted under this chapter by the division, or defined
as fraudulent in this chapter or rules adopted under this chapter by the
division, or any other deceptive scheme or practice in connection with the sale
of securities, or acting as a dealer, a salesperson, an investment adviser,
investment adviser representative, bureau of workers' compensation chief
investment officer, or state retirement system investment officer or when the
division believes it to be in the best interests of the public and necessary
for the protection of investors, the division may do any of the following:

(A)
Require any person to file with
it, on such forms as it prescribes, an original or additional statement or
report in writing, under oath or otherwise, as to any facts or circumstances
concerning the issuance, sale, or offer for sale of securities within this
state by the person, as to the person's acts or practices as a dealer, a
salesperson, an investment adviser, investment adviser representative, bureau
of workers' compensation chief investment officer, or state retirement system
investment officer within this state, and as to other information as it deems
material or relevant thereto;

(B)
Examine any investment adviser, investment adviser representative, state
retirement system investment officer, bureau of workers' compensation chief
investment officer, or any seller, dealer, salesperson, or issuer of any
securities, and any of their agents, employees, partners, officers, directors,
members, or shareholders, wherever located, under oath; and examine and produce
records, books, documents, accounts, and papers as the division deems material
or relevant to the inquiry;

(C)
Require the attendance of witnesses, and the production of books, records, and
papers, as are required either by the division or by any party to a hearing
before the division, and for that purpose issue a subpoena for any witness, or
a subpoena duces tecum to compel the production of any books, records, or
papers. The subpoena shall be served by personal service or by certified mail,
return receipt requested. If the subpoena is returned because of inability to
deliver, or if no return is received within thirty days of the date of mailing,
the subpoena may be served by ordinary mail. If no return of ordinary mail is
received within thirty days after the date of mailing, service shall be deemed
to have been made. If the subpoena is returned because of inability to deliver,
the division may designate a person or persons to effect either personal or
residence service upon the witness. The person designated to effect personal or
residence service under this division may be the sheriff of the county in which
the witness resides or may be found or any other duly designated person. The
fees and mileage of the person serving the subpoena shall be the same as those
allowed by the courts of common pleas in criminal cases, and shall be paid from
the funds of the division. Fees and mileage for the witness shall be determined
under section
119.094 of the Revised Code, and
shall be paid from the funds of the division upon request of the witness
following the hearing.

(D)
Initiate criminal proceedings under section
1707.042 or
1707.44 of the Revised Code or
rules adopted under those sections by the division by laying before the
prosecuting attorney of the proper county any evidence of criminality which
comes to its knowledge; and in the event of the neglect or refusal of the
prosecuting attorney to prosecute such violations, or at the request of the
prosecuting attorney, the division shall submit the evidence to the attorney
general, who may proceed in the prosecution with all the rights, privileges,
and powers conferred by law on prosecuting attorneys, including the power to
appear before grand juries and to interrogate witnesses before such grand
juries.

(E)
Require any dealers
immediately to furnish to the division copies of prospectuses, circulars, or
advertisements respecting securities that they publish or generally distribute,
or require any investment advisers immediately to furnish to the division
copies of brochures, advertisements, publications, analyses, reports, or other
writings that they publish or distribute;

(F)
Require any dealers to mail to the division, prior
to sale, notices of intention to sell, in respect to all securities which are
not exempt under section
1707.02 of the Revised Code, or
which are sold in transactions not exempt under section
1707.03 or
1707.04 of the Revised Code;

(G)
Issue and cause to be served
by certified mail upon all persons affected an order requiring the person or
persons to cease and desist from the acts or practices appearing to the
division to constitute violations of this chapter or rules adopted under this
chapter by the division. The order shall state specifically the section or
sections of this chapter or the rule or rules adopted under this chapter by the
division that appear to the division to have been violated and the facts
constituting the violation. If after the issuance of the order it appears to
the division that any person or persons affected by the order have engaged in
any act or practice from which the person or persons shall have been required,
by the order, to cease and desist, the director of commerce may apply to the
court of common pleas of any county for, and upon proof of the validity of the
order of the division, the delivery of the order to the person or persons
affected, and of the illegality and the continuation of the acts or practices
that are the subject of the order, the court may grant an injunction
implementing the order of the division.

(H)
Issue and initiate contempt proceedings in this
state regarding subpoenas and subpoenas duces tecum at the request of the
securities administrator of another state, if it appears to the division that
the activities for which the information is sought would violate this chapter
if the activities had occurred in this state.

(I)
The remedies provided by this section are
cumulative and concurrent with any other remedy provided in this chapter, and
the exercise of one remedy does not preclude or require the exercise of any
other remedy.